Pharmaceutical Drug Delivery Market: Introduction
- Pharmaceutical drug delivery is a technology used so that a drug reaches to the site of action for absorption, increased efficacy, and better patient treatment. The different ways of delivering pharmaceutical drugs are oral, intravenous injection, absorption through the skin, and inhalation.
Pharmaceutical Drug Delivery Market: Key Trends
- Advent of new technologies is projected to boost the growth of the global pharmaceutical drug delivery market in the next few years. Growing trend of introducing new drugs in the market is anticipated to drive the global pharmaceutical drug delivery market during the forecast period. Increase in mergers and acquisitions is expected to fuel the growth of the global pharmaceutical drug delivery market during the forecast period. For instance, in April 2019, Jordon-based company MS Pharma announced the acquisition of Greece-based manufacturer Genepharm with a vision to add cardiovascular, oncology, and central nervous system drugs to its product portfolio.
- Rise in concerns & awareness about health care, increase in geriatric population, and government support for research in the field of drug delivery are likely to increase the demand for pharmaceutical drug delivery. Hence, the global pharmaceutical drug delivery market is projected to grow at a rapid pace in the next few years. Increase in incidence of chronic diseases such as diabetes, cancer, osteoarthritis, and osteoporosis across the globe is anticipated to augment the global pharmaceutical drug delivery market during the forecast period. Additionally, the global market in expected to be driven by increase in demand in hospitals and clinics to cater to high inflow of patients of all ages. Moreover, ease of usage and superior absorption is likely to increase the demand for drug delivery devices. Hence, the global pharmaceutical drug delivery is projected to witness significant growth in the next few years.
- Presently, the world is struggling with the COVID-19 pandemic. COVID-19 leads to pneumonia, severe & acute respiratory disorders, multiple organ failure, and, in severe cases, death. The geriatric population is more prone to COVID-19. The global pharmaceutical drug delivery market is anticipated to grow at a rapid pace during the pandemic.
- Governments of developing countries are making significant investments to modernize health care infrastructure in their respective countries, which is expected to increase access to health care. This is expected to drive the demand for pharmaceutical drug delivery devices, which in turn is likely to boost the growth of the global market from 2021 to 2031.
North America to Capture Major Share of Global Pharmaceutical Drug Delivery Market
- North America is projected to dominate the global pharmaceutical drug delivery market from 2021 to 2031. This is attributed to increase in incidence of chronic diseases such as cancer, diabetic, and respiratory disorders; presence of large number of players, innovation in drug delivery, and government funding for research on life sciences. Additionally, growth of the pharmaceutical & biotechnology industries and presence of well-built and high quality infrastructure for laboratory and clinical research propel the market in North America. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to rise in research & developmental activities, increase in government initiatives for improving health care, and surge in focus of key players in building or strengthening presence in the region.
Key Players Operating in Global Pharmaceutical Drug Delivery Market
The global pharmaceutical drug delivery market is highly competitive and fragmented due to the presence of several large, medium, and small companies. These players hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global pharmaceutical drug delivery market.
Major players operating in the global pharmaceutical drug delivery market are:
- Bayer AG
- GlaxoSmithKline plc
- Pfizer, Inc.
- Merck & Co., Inc.
- Becton, Dickinson and Company
- Antares Pharma
- Other prominent players
Global Pharmaceutical Drug Delivery Market: Research Scope
Global Pharmaceutical Drug Delivery Market, by Route of Administration
Global Pharmaceutical Drug Delivery Market, by Application
- Infectious Diseases
- Cardiovascular Diseases
- Respiratory Diseases
- Central Nervous System Disorders
- Autoimmune Diseases
Global Pharmaceutical Drug Delivery Market, by Distribution Channel
- Home Care Settings
Global Pharmaceutical Drug Delivery Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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